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Investment Prospectus Mildura Motorsports & Community Precinct: a Project of Mildura Rural City Council

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Investment Prospectus Mildura Motorsports & Community Precinct: a Project of Mildura Rural City Council Investment Prospectus www.mildura.vic.gov.au Mildura Motorsports & Community Precinct: a project of Mildura Rural City Council. Authorised by: Mildura Rural City Council 79 Deakin Avenue MILDURA 3500 (03) 5018 8100 www.mildura.vic.gov.au August 2018 Edition 3 Content The Project ........................................................................................... 05 Our Economy ...................................................................................... 07 Our Region ........................................................................................... 09 Motorsports History and Participation................................................. 11 Background .......................................................................................... 12 Development Proposal ........................................................................ 15 Full Master Plan .................................................................................. 17 Stage One Development ..................................................................... 19 Stage One Proposed Funding Mix ...................................................... 20 Investors .............................................................................................. 22 Government ........................................................................................ 25 Private and Community Investors ...................................................... 27 Support and Advocacy ........................................................................ 28 Your Opportunity ................................................................................. 31 Mildura Motorsports & Community Precinct Investment Prospectus 03 The Project Establishing an integrated, multi-purpose Motorsports and Community Precinct. Stage one is developing a bitumen raceway and skidpan with associated infrastructure. The Mildura Region Mildura is a leading, rapidly growing, diverse, vibrant and innovative regional municipality. Situated in north west Victoria on the iconic Murray River, the area is renowned for its agricultural, horticultural and tourism industries, its moderate-to-warm climate, relaxed lifestyle and high participation in motorsports nationally. Located within the tri-state region of Victoria, New South Wales and South Australia, Mildura is the regional hub for hundreds of thousands of residents across three states. Mildura Motorsports & Community Precinct Investment Prospectus 05 Our Economy Mildura is the 30th largest City in Australia, which is made up of the below: Gross Regional Product $3.16b (June 2017) Building approvals: $158m (2017/18) Home to Australia’s largest primary produce and wine processing businesses: The Mildura region boasts the nation’s largest citrus packer and exporter and four of Australia’s top 10 wineries (based on wine crush). It’s also home to the nation’s largest vegetable concentrate manufacturer, dried fruit packer, manufacturer of natural tartaric acid and the largest almond processing facility in the southern hemisphere. Number of businesses: 5,271 (2017) Food production: The Mildura region produces 20% of Australia’s wine grape crush, 24% of the nation’s citrus, 98% of Australia’s dried grapes, 75% of Australia’s table grapes and 68% of the country’s almonds. Home to three of Australia’s national peak horticulture and agriculture bodies: Dried Fruits Australia, Citrus Australia and the Australian Table Grape Association are all based in Mildura. Mildura Motorsports & Community Precinct Investment Prospectus 07 Our Region Area: 22,330km² Mildura boasts some of the largest developments nationally. The last few years have seen a strong interest in developments in the region and the commitment of large scale funding towards major projects from the three tiers of Government and private investors. In the last five years there has been over $500 million worth of large scale developments and an additional $2.5 billion in large scale projects committed to the Mildura region which is being proposed to be established in the next 2-10 years. Major Projects and Our Industries and Developments Infrastructure • $2.5b Renewable Solar Facilities • La Trobe and Monash University campuses • $220m Murray Basin Rail Project to in Mildura standardise and upgrade rail infrastructure • Sunraysia Institute of TAFE provide courses • $120m Dockside Mildura Marina relevant to motorsport • $120m Sunraysia Modernisation Project to • Victoria’s largest regional airport is in upgrade irrigation infrastructure Mildura offering direct flights to Sydney, • $62.8m almond processing facility Adelaide, Melbourne and Broken Hill • $32m Hattah Lakes Environmental Works • Availability of natural gas Project • Two large hospitals – the Mildura Base • $30m Wine and distribution infrastructure Hospital and Mildura Private Hospital • $19.2m Stage 1 of the Mildura Riverfront • Modern water supply infrastructure Redevelopment • A major producer of horticultural and • $16m Stage 1 of Mildura South Regional agricultural goods Sporting Precinct • Vibrant and strong tourism industry that • $10.1m Mildura Natural Gas Capacity last year injected $313 million into the Expansion Project district and provided 1777 full-time jobs • $8.7m Mildura Arts Centre redevelopment • Social and health services • $10m Mildura Airport runway overlay and • Several large mining developments in the extension projects region • Multiple solar facilities committed and constructed Mildura Motorsports & Community Precinct Investment Prospectus 09 Mildura Motor Sports & Community Precinct Investment Prospectus 08 Motorsports History and Participation Motorsport involvement in Mildura has a rich and Motorsports Events diverse history with some clubs and events dating back The district’s enthusiastic and progressive motorsport to the 1930’s. Motorsport participation in Mildura is clubs regularly host state and national titles throughout four times the national average, while there are more the year, including karting, speedway bikes and cars, than 100 motorsport events held in the region each off-road (car) racing, drag racing, motocross, and year. enduro. Champions Mildura boasts some of the biggest and most Mildura could well be described as Australia’s home of successful motorsport events in the country, attracting motorsport. There are very few regions that can boast thousands of competitors and spectators each year. such an impressive list of champions across a wide range of motorsport disciplines. Mildura’s Olympic Park Speedway made history in October 2015 when it became the first venue outside Europe to host the World Team Speedway under 21 Road racing Championships. On bitumen they include Supercar drivers Todd Kelly, Rick Kelly and Cameron Waters, multiple Australian The Australian National Drag Racing Association held Superbike champion Josh Waters, and Australian Top the Summit Racing Equipment Sportsman’s Series in Fuel drag racing champions Phil Lamattina (retired) Mildura in December 2015 and October 2016 which and four-time champion Darren Morgan, both of was aired on SBS and Speedweek reaching just under whom call Australia’s premier one-eighth mile drag 400,000 people in Australia, US, New Zealand and racing facility – Mildura’s Sunset Strip - home. Indonesia. Off-Road Sunraysia also hosts two major ski racing events each year – the iconic Mildura 100 on the Murray River On dirt, the district has produced numerous champions at Easter, recognised as the fastest ski race in the including three-time World Solo Speedway champion world, and the Ted Hurley Ski Race Classic, attracting Jason Crump, 10-time Australian Solo Speedway hundreds of competitors and thousands of spectators. champion Leigh Adams (retired) and five-time Hattah Desert Race winner Warren Smart. It’s also produced The Hattah Desert Race meanwhile is held on the first the only man to win Australia’s toughest off-road race, weekend in July each year and attracts more than 500 the Australasian Safari, on both a motorcycle and in a of the very best off-road riders in the country to the car, John Hederics. John has won the event 10 times - region. It also attracts massive spectator numbers and more victories than any other competitor. widespread national magazine coverage. On the Water The majority of these events take place within 10 Mildura’s reputation is equally impressive on the kilometres of Mildura’s major accommodation houses, water with numerous national and world title winners. which is a major convenience factor for both spectators Sunraysia-based observer Damien Matthews is a and competitors. multiple and consecutive winner of the Mildura 100 Ski Race, the fastest ski race in the world. He’s also won multiple Southern 80 ski races. Mildura Motorsports & Community Precinct Investment Prospectus 11 Background For many years there have been discussions in the In association with the feasibility study the Victorian community and among motorsports enthusiasts about Government committed $2m towards constructing the development of a premier regional motorsports a drag race facility at Swan Hill. It was also listed as precinct in Mildura. In 2011 Mildura Rural City Council a Tier 1 investment and development project in the (Council), in conjunction with Swan Hill Rural City Murray Regional Product Gap Analysis and Tourism Council, engaged in a North-West Victorian Motor Development Plan of July 2012. Sports Feasibility Study (feasibility study) to facilitate the development of all motorsports across the region.
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